House prices increased by 5.4% in the first three months in Madeira

“House prices in the Autonomous Region of Madeira increased by 5.5% in the 1st quarter of 2022 compared to the previous quarter”, reports idealista this morning, according to its price index. “Buying a house in Madeira had a cost of 2,009 euros per square meter (euros/m2) at the end of March, taking into account the median value. annual rate of 13.2%”, he points out.

In municipal terms, says the real estate portal, that “prices in the region rose in Funchal (5.5%), Ponta do Sol (5.3%), Calheta (4.6%), Câmara de Lobos (2.8 %), Santana (2.4%) and Santa Cruz (1.4%) On the other hand, prices fell in Ribeira Brava (-3.5%), São Vicente (-2.9%) and Machico ( -0.7%)”.

Naturally, “the most expensive municipality to buy a house is Funchal (2,227 euros/m2), followed by Calheta (2,056 euros/m2), Câmara de Lobos (1,710 euros/m2) and Ribeira Brava (1,678 euros/m2) On the other hand, the most economical are Santana (969 euros/m2), São Vicente (1,037 euros/m2) and Machico (1,248 euros/m2)”, he says.

In this sense, and “following the trend in the region, houses in Porto Santo rose 3.7% during the same period analyzed, setting the price per square meter at 1,431 euros/m2”, he reveals.

From Diário Notícias